Lapping names investors

Last updated : 17 April 2015 By Paddock Pundit

A wealthy London businessman and a former Blues player can today be revealed as the latest investors backing Andrew Lapping's revamp of Carlisle United.

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Bim Sandhu, a friend of Lapping, is set to inject money into United as part of a restructure of the League Two club.

And Cumbrian electricals businessman Graham Mossop, who briefly played for Carlisle in the early 1980s, is also supporting Lapping's plans.

Sandhu is chief executive and owner of the Santon Group, a private development company and is described by Lapping as a sports philanthropist.

Mossop is the owner of J&J Electrical, a firm with bases in Carlisle and Workington.

They are set to join a consortium of business people who Lapping expects to invest £1.26 million in United this summer.

Lapping said Sandhu would be one of only two or three non-Cumbrians in the consortium.

Lapping said: "Bim makes his money out of property development but I need to stress there is no Project Blue Yonder stadium angle with his involvement.

"He is a sporting philanthropist and a big mate. We generally invest in everything together.

"He is a sporting nut and wants to participate in this, because he can see the potential at Carlisle, and it will be great to have someone like him involved."

On his website Sandhu is described as a founder and CEO of property investment company Raven Mount, a co-founder of Raven Russia Limited and an investor in many other businesses. He also heads a charitable foundation.

Mossop, 57, made two appearances for United in the 1980/81 season and also turned out for Workington Reds.

"I met Graham last Friday and he was very passionate about it and wants to be involved," Lapping added.

Previously revealed as investors are System People chairman Robin Brown - who is set to join the Blues' board - MH Industrial cleaning managing director Mark Harper and bookies.com owner Andy Bell.

Lapping and the current United board are finalising a new heads of terms which will pave the way for a new share issue and a restructured ownership of United.

Next week the club will start interviewing the first of six shortlisted applicants for the new role of sales and marketing director.

Lapping expects to issue a mini-prospectus to further potential investors in the next month.

United are at home to Plymouth Argyle in League Two tomorrow where victory could see Keith Curle's team secure their League Two survival.

First published at 08:47, Friday, 17 April 2015

Published by http://www.newsandstar.co.uk